Most Valuable Brands: Tata's value falls but remains perched at top; Micromax struggles
Value of top Indian brands increased 15% in 2017, ahead of the global average of 11%. Brand Finance List features some surprises in its 2017 brand evaluation that puts Tata's brand on top and IT services that performed well despite of backlash of of H1-B visa fiasco and job cuts.
- Tata's brand value falls 4% but remains at the top
- IT sector, despite US H1-B visa issues and job losses, remains buoyant
- Micromax is struggling to keep up against Chinese phonemakers
Tata Group continues to remain India's most valued brand even after its value fell from $13.7 billion to $13.1 this year, valuation and strategy consultancy Brand Finance said.
Brand Finance said, "There has already been intense speculation as to whether brand value has fallen due to Tata’s board room drama. In Brand Finance’s view this is emphatically not the case.
Brand Finance’s CEO David Haigh said, "The brand value drop of 4% is clearly not positive, however it is a lesser decline than between 2015 and 2016, when brand value fell 11%."
Infosys and HCL Technologies continued to be most valued brands and continued to occupy positions in the top 10.
Infosys and HCL Technologies gained one spot each to stand at number four number nine this year.
Brand Finance said , "IT services brands continue to be one of India’s great success stories, dominating not just the national rankings but the international rankings of their sector too."
All of India’s major IT services brands have grown in value this year, including TCS within the overall Tata portfolio.
"Even as other Indian brands perform strongly, IT services brands are managing to improve their national ranks. Infosys is up from 5th to 4th, HCL from 10th to 9th and Wipro from 12th to 11th," Brand Finance said.
Airtel, which is currently locked in a battle of supremacy with the new operator Reliance Jio, remained at its last year position of second most valued brand in India. Although its value rose to $7.72 billion from $5.7 billion in 2016.
SEE FULL LIST HERE.
Other notable gainers in the most valuable brands were: Royal Enfield who jumped from 49 in 2016 to 33 in 2017.
Interestingly, public sector miner Coal India too jumped from 68th position last year to 36 in 2017 while JSW and Adani rose from 53 and 60 positions in 2016 to 39 and 40, respectively.
However, the ‘not-so- cheerful’ side of brands were the iconic Taj Hotels brand that fell 14 places to 93rd, value dropping below $300 million and Micromax that lost 39% of its brand value, the report said.
“This year’s fastest falling brand is Micromax. The tech firm has lost 39% of its brand value and nearly fallen out of the top 100, placing 95th. Micromax is struggling to compete following the influx of strong Chinese mobile brands such as Oppo and Vivo into the Indian market in the last couple of years,’ the report added.